Borrower requested a $750,000 loan to purchase a single-family property in Pace, Florida. The borrower paid $305,000 for the property and is intending on leasing the property ASAP. Additionally, the borrower is pledging three condos in the Orlando area, currently operating as short-term rentals, all owned free and clear. The SFR property features 4 beds and 2 baths at 2003 sq/ft. The borrower is using the loan surplus to fund the purchase of 175 acres in Alabama for development. The borrower plans to refinance as an exit to the loan.
Collateral:
Type: Refinance
Description:
This request is for a $60,000 refinance loan secured by a condominium property located in Zephyrhills, Florida. The collateral is a 2-bedroom, 2-bathroom unit with total 876 square feet. Borrower exit strategy for this loan is to sell the Zephyrhills property upon expiration of the lease.
- Loan Amount: $60,000
- Date: October 2025
